S&CO Inc. Makes New Investment in General Mills, Inc. $GIS

S&CO Inc. purchased a new stake in General Mills, Inc. (NYSE:GIS) in the second quarter, HoldingsChannel reports. The institutional investor purchased 13,646 shares of the company’s stock, valued at approximately $474,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of GIS. Bellars Harris Wealth Management LLC acquired a new position in shares of General Mills during the 2nd quarter worth about $594,000. Avalon Trust Co acquired a new stake in General Mills in the 2nd quarter valued at about $128,000. BIP Wealth LLC acquired a new stake in General Mills in the 2nd quarter valued at about $360,000. Everett Harris & Co. CA bought a new position in General Mills during the second quarter worth about $502,000. Finally, Greatmark Investment Partners Inc. increased its position in General Mills by 2.1% during the second quarter. Greatmark Investment Partners Inc. now owns 66,970 shares of the company’s stock worth $2,331,000 after buying an additional 1,376 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Trading Up 0.1%

Shares of GIS stock opened at $39.23 on Monday. The firm has a 50 day moving average price of $36.10 and a two-hundred day moving average price of $37.92. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $20.93 billion, a PE ratio of -217.90 and a beta of -0.03. General Mills, Inc. has a 12-month low of $31.75 and a 12-month high of $51.33.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.15. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.59 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, analysts predict that General Mills, Inc. will post 3.07 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were paid a $0.61 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.44 annualized dividend and a yield of 6.2%. General Mills’s payout ratio is -1,355.56%.

Analyst Upgrades and Downgrades

GIS has been the subject of a number of recent analyst reports. Sanford C. Bernstein cut General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 price objective for the company. in a research report on Wednesday, June 3rd. Stifel Nicolaus decreased their target price on General Mills from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Bank of America boosted their target price on General Mills from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft increased their price target on General Mills from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Finally, BNP Paribas Exane lifted their price objective on shares of General Mills from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, General Mills currently has an average rating of “Reduce” and a consensus price target of $39.16.

General Mills Profile

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.